James Mwangi-led Equity Bank Secures 20 Million Facility To Boost Financial Access In Kenya's Refugee Regions

Equity Bank, the flagship banking subsidiary of Equity Group led by Kenyan banker James Mwangi, has launched a transformative initiative in partnership with the International Finance Corporation IFC to improve financial access for underserved communities, including refugees and their hosts.

The 20 million Risk Sharing Facility RSF , developed in collaboration with the IFC, was unveiled in Kakuma, Turkana County, and will extend its reach to 14 counties, including those hosting the Kakuma and Dadaab refugee camps.

As the first of its kind globally, the RSF aims to break down barriers to finance for refugees and host communities. It aligns with Equitys Africa Recovery and Resilience Plan ARRP, which seeks to create 5 million businesses and 25 million jobs by 2030. By improving access to credit, the facility will enable entrepreneurs in some of Kenyas most underserved regions to build sustainable livelihoods and contribute to economic growth.

Speaking on behalf of Equity Group CEO James Mwangi, Equity Bank Kenya Managing Director Moses Nyabanda highlighted the significance of the partnership. This initiative is a game-changer for financial inclusion. By making credit more accessible, we are opening doors for refugees and host communities to build better futures and drive local economic development, he said.

The RSF reflects a shared commitment between Equity Bank and IFC to create lasting economic impact. With IFC covering 50 percent of the risk exposure, the facility will provide financing to businesses traditionally excluded from formal banking systems. It also addresses a major funding gap faced by Kenyan micro, small, and medium enterprises MSMEs, unlocking entrepreneurial potential and creating jobs.